CPA Exam Flashcards

Decks in this Class (55):

• Audit Reports Clarified Sas

  Audit Reports - Clarified SAS

  Sample Cards:

  what is management responsible for in re,

  what is management responsible for in re,

  what are the 4 paragraphs in the audit r
  5 Cards
  Preview Flashcards
• Audit Reports Pre Clarity

  Audit Reports - Pre-Clarity

  Sample Cards:

  what are the requirements for an audit r,

  how should an audit report be adjusted i,

  when is consistency not violated with re
  36 Cards
  Preview Flashcards
• Audit Sampling

  Audit Sampling

  Sample Cards:

  what is audit sampling,

  what are the characteristics of statisti,

  what are the characteristics of non stat
  36 Cards
  Preview Flashcards
• Engagement Planning

  Engagement Planning

  Sample Cards:

  what is the primary duty of an auditor,

  what is the auditor s responsibility for,

  when should an auditor be hired in relat
  48 Cards
  Preview Flashcards
• Evidence And Risk

  Evidence and Risk

  Sample Cards:

  what is the majority of an auditor s wor,

  of what does audit evidence consist,

  what is the relationship between evidenc
  51 Cards
  Preview Flashcards
• Information Technology

  Information Technology

  Sample Cards:

  when is an audit of it not required,

  when can an audit of it be performed wit,

  what is the role of a database administr
  26 Cards
  Preview Flashcards
• Internal Control

  Internal Control

  Sample Cards:

  if internal control is poor and a compan,

  if internal control is poor what is the,

  what does internal control provide reaso
  43 Cards
  Preview Flashcards
• International Auditing

  International Auditing

  Sample Cards:

  who created the international auditing s,

  for whom were iaasb international auditi,

  what financial approach is used under ia
  8 Cards
  Preview Flashcards
• Professional Responsibilities

  Professional Responsibilities

  Sample Cards:

  what engagements are covered by the aicp,

  what must an accountant have under the a,

  what are threats and safeguards to indep
  27 Cards
  Preview Flashcards
• Accounting Changes

  Accounting Changes

  Sample Cards:

  how are changes in accounting principle,

  would a change from completed contract t,

  would a change from lifo to fifo be a ch
  10 Cards
  Preview Flashcards
• Bonds Debt Restructure

  Bonds Debt Restructure

  Sample Cards:

  what is a serial bond,

  what is a term bond,

  what is a debenture bond
  23 Cards
  Preview Flashcards
• Consolidations

  Consolidations

  Sample Cards:

  when is the fair value method used for r,

  when is the equity method used when purc,

  when are companies required to file cons
  7 Cards
  Preview Flashcards
• Current Assets Liabilities

  Current Assets & Liabilities

  Sample Cards:

  what is a current asset,

  what is a current liability,

  how is the quick ratio calculated
  11 Cards
  Preview Flashcards
• Deferred Taxes

  Deferred Taxes

  Sample Cards:

  what is a temporary difference related t,

  what is a deferred tax asset,

  what is a deferred tax liability
  8 Cards
  Preview Flashcards
• Derivatives Hedging Translation

  Derivatives Hedging Translation

  Sample Cards:

  how are derivatives recorded,

  how are unrealized gains losses on tradi,

  how are gains and losses on available fo
  12 Cards
  Preview Flashcards
• Financial Reporting

  Financial Reporting

  Sample Cards:

  what is the primary objective of account,

  what is the most authoritative set of ac,

  what are the 2 levels of authority withi
  56 Cards
  Preview Flashcards
• Financial Statements

  Financial Statements

  Sample Cards:

  which personal financial statements are,

  how are assets and liabilities valued in,

  how are estimated taxes that would be pa
  15 Cards
  Preview Flashcards
• Fixed Assets

  Fixed Assets

  Sample Cards:

  how are research and development costs r,

  which expenditures are included in the c,

  which expenditures are included in the c
  15 Cards
  Preview Flashcards
• Governmental Accounting

  Governmental Accounting

  Sample Cards:

  what are the three major types of funds,

  which two accounting bases are used in g,

  what is a budget appropriation
  25 Cards
  Preview Flashcards
• Ifrs

  IFRS

  Sample Cards:

  which organization s standards are the m,

  where is the first place management shou,

  which framework helps to develop standar
  44 Cards
  Preview Flashcards
• Inventory

  Inventory

  Sample Cards:

  which costs are inventoriable,

  when does ownership of goods transfer wh,

  when does ownership transfer when goods
  23 Cards
  Preview Flashcards
• Investments

  Investments

  Sample Cards:

  how are available for sale securities re,

  how are available for sale security unre,

  how are unrealized g l for available for
  7 Cards
  Preview Flashcards
• Leases

  Leases

  Sample Cards:

  how is a capital lease recorded,

  what footnote disclosures are required f,

  what are the requirements for a capital
  10 Cards
  Preview Flashcards
• Nfp Accounting

  NFP Accounting

  Sample Cards:

  which financial statements are required,

  what are the major classifications found,

  what are the major classifications in a
  21 Cards
  Preview Flashcards
• Partnership Accounting

  Partnership Accounting

  Sample Cards:

  how are capital contributions with a mor,

  if no goodwill is recorded upon admissio,

  if goodwill is recorded upon admission o
  4 Cards
  Preview Flashcards
• Statement Of Cash Flows

  Statement of Cash Flows

  Sample Cards:

  what items are included in operating act,

  what items are included in investing act,

  what items are included in financing act
  5 Cards
  Preview Flashcards
• Stockholders Equity

  Stockholders Equity

  Sample Cards:

  when common stock and preferred stock ar,

  when is apic recorded on a stock subscri,

  to what extent is retained earnings rest
  25 Cards
  Preview Flashcards
• Capital Budgeting

  Capital Budgeting

  Sample Cards:

  what is capital budgeting how is it used,

  what values are used in capital budgetin,

  when is the present value of 1 table use
  28 Cards
  Preview Flashcards
• Corporate Governance

  Corporate Governance

  Sample Cards:

  what is the primary duty of the board of,

  what is the responsibility of the nomina,

  what is the responsibility of the audit
  18 Cards
  Preview Flashcards
• Cost Accounting

  Cost Accounting

  Sample Cards:

  what is cost accounting,

  what is the difference between cost acco,

  what are product costs aka inventory cos
  36 Cards
  Preview Flashcards
• Economics

  Economics

  Sample Cards:

  how does a price increase affect supply,

  what is a supply curve shift,

  what are the characteristics of a positi
  67 Cards
  Preview Flashcards
• Financial Management

  Financial Management

  Sample Cards:

  what is the primary focus of working cap,

  how is net working capital calculated,

  what are the characteristics of effectiv
  41 Cards
  Preview Flashcards
• Financial Planning

  Financial Planning

  Sample Cards:

  what is a static budget,

  what is a maser budget,

  how do fixed costs affect budgeting
  19 Cards
  Preview Flashcards
• Information Technology

  Information Technology

  Sample Cards:

  which it personnel roles should always b,

  what are the duties of a systems analyst,

  what is the primary duty of a systems ad
  70 Cards
  Preview Flashcards
• Performance Measures

  Performance Measures

  Sample Cards:

  what four perspectives are included in b,

  why was balanced scorecard created,

  what are strategy maps
  28 Cards
  Preview Flashcards
• Risk Management

  Risk Management

  Sample Cards:

  define market risk,

  define sector risk,

  define credit default risk
  17 Cards
  Preview Flashcards
• Agency Law

  Agency Law

  Sample Cards:

  what is agency law,

  what is required for agency to exist,

  what is actual authority in an agency
  13 Cards
  Preview Flashcards
• Bankruptcy

  Bankruptcy

  Sample Cards:

  what are the basic actions that occur in,

  for what debts does bankruptcy not stop,

  how does bankruptcy of a corporation aff
  29 Cards
  Preview Flashcards
• Business Structures

  Business Structures

  Sample Cards:

  what are the key elements of a valid par,

  can corporations and other partnerships,

  name the basics of partnership formation
  50 Cards
  Preview Flashcards
• Commercial Paper

  Commercial Paper

  Sample Cards:

  what is a promissory note,

  what is a draft,

  what is a check
  20 Cards
  Preview Flashcards
• Contracts

  Contracts

  Sample Cards:

  what must a contract contain,

  what forms may acceptance of a contract,

  who can accept an offer
  18 Cards
  Preview Flashcards
• Dodd Frank

  Dodd Frank

  Sample Cards:

  what is considered the biggest change to,

  what is the goal of the volcker rule,

  how does the volcker rule limit banking
  4 Cards
  Preview Flashcards
• Employment Environment Law

  Employment Environment Law

  Sample Cards:

  describe the federal unemployment tax ac,

  what are the major aspects of fica and s,

  when is an employee covered by workman s
  7 Cards
  Preview Flashcards
• Federal Securities Acts

  Federal Securities Acts

  Sample Cards:

  what are the key points of the 1933 secu,

  what entities are exempt from filing reg,

  what are the key points of the 1933 secu
  16 Cards
  Preview Flashcards
• Jobs Act

  JOBS Act

  Sample Cards:

  what is the revenue limit for an emergin,

  for an emerging growth company ipo how m,

  how did reg d rule 506 change under the
  5 Cards
  Preview Flashcards
• Professional Responsibilities

  Professional Responsibilities

  Sample Cards:

  what is the purpose of a consulting enga,

  what is required by the statements on st,

  what is the difference between express v
  18 Cards
  Preview Flashcards
• Property Law

  Property Law

  Sample Cards:

  what does real property include,

  what are the characteristics of a deed,

  what are the characteristics of a mortga
  9 Cards
  Preview Flashcards
• Sales Law

  Sales Law

  Sample Cards:

  what sales are covered under the uniform,

  what elements are needed for a sale cove,

  what are the elements of a firm offer
  11 Cards
  Preview Flashcards
• Secured Transactions

  Secured Transactions

  Sample Cards:

  when does a security interest attach or,

  what are the characteristics of perfecti,

  how does perfection occur in a secured t
  6 Cards
  Preview Flashcards
• Corporate Taxation

  Corporate Taxation

  Sample Cards:

  how is shareholder basis calculated for,

  how is shareholder basis calculated for,

  what basis do shareholders and corporati
  46 Cards
  Preview Flashcards
• Estate Trust Taxation

  Estate Trust Taxation

  Sample Cards:

  how is gift taxation different from esta,

  what is the annual exclusion amount for,

  if a gift is an annuity what value is us
  24 Cards
  Preview Flashcards
• Individual Taxation

  Individual Taxation

  Sample Cards:

  under what accounting basis are individu,

  what are the deductions to arrive at adj,

  which items can be carried over to futur
  67 Cards
  Preview Flashcards
• Multi Jurisdictional Tax

  Multi-jurisdictional Tax

  Sample Cards:

  what is the interstate income act of 195,

  what are the principles of the interstat,

  what is the uniform division of income f
  5 Cards
  Preview Flashcards
• Partnership Taxation

  Partnership Taxation

  Sample Cards:

  true or false partnerships are a taxable,

  when exchanging property for a partnersh,

  what is a partner s basis in partnership
  32 Cards
  Preview Flashcards
• Property Transactions

  Property Transactions

  Sample Cards:

  what is the basic calculation for basis,

  what is the recipient or donee s basis o,

  what is the basis and holding period of
  20 Cards
  Preview Flashcards